New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-10
CLOSING PRross OF PHILADELPHIA srooKs
Buffalo. ". Y. b
TUESDAY, Aug. 9-P. ". :


The osicia, renort NJ the New-York Lake Erie nd
Western Railway Company for the quarter ended jane
80, 1887 shows gain id gross earnings over tne SAL
period Of 1885, of $452912 gain in net earnings OF
207 $40 and gain in the surplus over nrst charges Oh
Sl643s9. Compared with the quarter OF 1882 the
gains are 81 63 900 earnings $3o2ooo net earn
ing and 81 900 surplus over first charges For inc
nine months ended June 80 the gains the preceding
year are per cent for the gross earnings over ID
per cent the net earnings and 1864 per cent LOT
the surplus all first charges That is the surplus
over charges for the nine months Of this year is
S64Ol17 against a surplus OF $17.O64 for the same
nine months OF last year. The surplus for the hino
months of the current year $6i011 $273556 In ex
cess dividends requirements the preferred STOCK
The comparison of the three months and OF nine ohh'
are printed below 1t is Interesting to note that al ts
date in 1885, when the company was In deiaut oh i.'
interest payment, and each quarters business was ~
Ing its deficit. the price OF the common STOCK was 80
and of the prefe rred stock Now that the COM
pany is earning surplus over the per cent ui'ue"u
on the preferred stock the prices are 80 ana %
lively And 1t still is charging to operating expshses
expenditure for repairs which should have been made
prior to 1888. -
We also print an official statement OF the Chicago b.
Paul and Milwaukee Railway Company for the six
months edded June 80. which shows gain OF $loZ'-%o
over the same months OF 1886. The company never
earns as its first six months as In 1t, last Tor
instance earnings in 1886 apportioned as
months TO December 81, S6,654Z9; total lot inc
yea of 1856, $1Ol5s,l39.
The first three roads reporting gross earnings TOT tho
first August printed below come in with the usual
gains on 1856 although the gains Of 1886 over 1888 for
two of the companies were largo
The battle cry OF bears at the opening
of business at the Stock Exchange this morning was
"No corn" meaning that the growing crop W so ma
teray damaged greatly TO affect the future earnings
Of railroads. To emphasize the cry the bear conof
nation sluggcd 5000 or 1000 shares OF North
western stock the market at ll4-t closed last night
at l14ss and followed by sales all over the list
But North western stock made the pivotal stock OF
shear operatons The stock closed tonight at 1l4l2
with the short interest something like 10000 shares
greater than last Friday The Chicago and North
western Company could lose half OF Its net earnings OF
last year and still continue the payment OF per cent
on its preferred stock and per cent on Its common
stock out OF the net earnings remaining The
damaging reports concerning the condition
of the growing corn crop, which were more
conspicuous the headlines OF dispatches published In
thi. mornings papers than IN the following reading
matter, we're sup plemented by continuous dispatches
all day Chicago TO the stock Exchange. There Is
nothing new in the teaching that Chicago can be as
romantic ON one side OF the stock the other
When Chicago is good IL is terribly good AMI when II Is
is awful There is no reason to doubt that In GER
tain sections Of the West particularly In llinois' the
growing crop OF has suffered considerable damage
Neither there doubt that the damage sustained In
certain localities attempted TO be made to appear ge H.
eraL Chicago Is "long OF corn aad short OF stocks
Now let us see. These damaging reports concerning
the crop have been spreai before the
public for about four weeks. From the
lowest price in July the May option Is the prn
cipa speculative option the next crop-has advanced
about cents to 46 cents. while September corn has
advanced from July only zig cents These figures In
dictate that at Chicago there exists no great fear OF
short crop despite the sensational dispatches with